Market is recovering nicely as Bitcoin is headed back above $70k , just now it hit $70700 from $64k. This is a good candle printed in a day which shows a biggest recovery. I remeber few days back when Bitcoin price declined 5% and people were saying that bullrun is over.
Even though the bull market is not started yet, a 5% decline cannot determine the market direction. It was just a healthy correction as i told in my previous posts. The Selling pressure was higher due to people taking profit that is why we saw the healthy correction.
Now Bitcoin is back above $70k , i bet many people who were afraid to buy at $64k will end up buying it at higher prices. This is a normal human psychology especially when you are not well researched about something.
With the recovery of Bitcoin rest of the market is also recovering fast. Altcoins are catching the heat. For example Ethereum price is increased more than 8% and it is now trading at $3650. The road to $4k from here looks very easy and it can be hitting that target anytime soon.
PolyX is the biggest gainer in the altcoin list for today. Its price is increased more than 45%. It went up to 57 cents from 37 cents. The chart still looks bullish and could print more profit for the coin holders.
As everything is pumping following Bitcoin, Hive price is also increased 5%. We know that it is always slow as compared to other altcoins. There is no reason for this as it is what it is. It looks like hive does not care about rest of the market and it doest its own things.
Its true that hive is not pumped like other altcoins who are 10% to 15% up each but i am happy for the 5% it pumped. Its enough as i still believe that it will give us surprise very soon. We are all waiting for that moment to happen and believe me its near, just keep hodling.
Many of you may have sold your holdings in panic recently when Bitcoin price was declined to $62k thinking that it will not recover now. If you are one of them then you must be crying now after seeing market has recovered well. It took a little more time but finally it is back up.
There is a big lesson here to understand that one should not panic sell their assets as it is not a good take. If you bought something then you should have faith and patience to hold through the ups and downs.
If you are selling in some emergency needs of funds then it makes sense but panic selling should be avoid as you will regret later similiar like it happened just now. The market is recovered and $62k sellers got rekt.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
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